TAIEX follows Wall Street fall
The TAIEX closed down 1.61 percent yesterday as investors reacted to a Wall Street fall overnight amid renewed concerns over weakening global economic fundamentals, dealers said.
The TAIEX fell 124.92 points to 7,616.28, after moving between 7,577.10 and 7,687.47, on turnover of NT$115.80 billion (US$3.62 billion).
The market opened down 0.93 percent after Wall Street’s 1.39 percent decline pushed the Dow Jones Industrial Average to the brink of tumbling below the key 10,000 barrier, dealers said.
Selling accelerated across the board with Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics manufacturer, dragging down the index on weaker-than-expected results for the first half of the year..
A total of 3,087 stocks closed down and 692 finished higher, with 151 remaining unchanged. Foreign and Chinese institutional investors were net sellers of NT$5.3 billion in shares on the day.
Taiwan and Ireland talk
Taiwan and Ireland opened a two-day conference in Dublin on Monday to discuss cooperation on sustainable energy technology, Taiwan’s representative to Ireland said the same day.
The joint conference, sponsored by the National Science Council (NSC) of Taiwan and the Science Foundation Ireland (SFI), has five major topics on its agenda — applications of information and communication technology, ocean energy, renewable energy, solar energy and smart grids.
The conference has been planned for about two years and has finally been organized thanks to the aid of the NSC and the SFI, Taiwanese Representative to Ireland Lee Nan-yang (李南陽) said at the opening ceremony.
“Taiwan and Ireland are both devoted to the development of green power,” Lee said. “I hope the joint conference will increase opportunities for cooperation on green power technology between the two countries,” he added.
Over 70 representatives attended the conference, including officials of state-owned companies and scholars from both countries.
China firm seeks TAIEX listing
Chunghong Holdings Ltd (昶虹), a Chinese printed circuit board (PCB) firm, is seeking to raise funds in Taiwan through a primary listing on the local main board, underwriter Capital Securities Corp (群益證券) said on Monday.
Capital Securities said Chunghong, which is registered in the Cayman Islands, is planning to issue 7.61 million new shares to raise about NT$216.8 million (US$6.77 million) and has filed an application with the Taiwan Stock Exchange for the listing.
According to its prospectus, Chunghong expects the listing to be completed in the first quarter of next year.
Aside from making PCBs, Chunghong also provides surface mount technology to make electronic circuits in which the components are mounted on the surface of the PCBs.
Chunghong, which was founded by Taiwanese businessmen operating overseas, was listed on the Singapore Exchange in 2007 but delisted voluntarily last year.
FET appoints new president
Far EasTone Telecommunications Co (FET, 遠傳電信) promoted Chief Commercial Officer Yvonne Li (李彬) to the post of president, replacing Jan Nilsson who stays in his role as vice chairman, effective from Sept. 10, the Taipei-based operator said in an exchange filing yesterday.
NT falls against US dollar
The New Taiwan dollar fell against the US dollar yesterday, declining NT$0.042 to close at NT$32.102.
Turnover totaled US$1.082 billion during the trading session.
Sweeping policy changes under US Secretary of Health and Human Services Robert F. Kennedy Jr are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes in inoculation schedules and recommendations, investors and executives said. The administration of US President Donald Trump has in the past year upended vaccine recommendations, with the country last month ending its longstanding guidance that all children receive inoculations against flu, hepatitis A and other diseases. The unprecedented changes have led to diminished vaccine usage, hurt the investment case for some biotechs, and created a drag that would likely dent revenues and
Global semiconductor stocks advanced yesterday, as comments by Nvidia Corp chief executive officer Jensen Huang (黃仁勳) at Davos, Switzerland, helped reinforce investor enthusiasm for artificial intelligence (AI). Samsung Electronics Co gained as much as 5 percent to an all-time high, helping drive South Korea’s benchmark KOSPI above 5,000 for the first time. That came after the Philadelphia Semiconductor Index rose more than 3 percent to a fresh record on Wednesday, with a boost from Nvidia. The gains came amid broad risk-on trade after US President Donald Trump withdrew his threat of tariffs on some European nations over backing for Greenland. Huang further
CULPRITS: Factors that affected the slip included falling global crude oil prices, wait-and-see consumer attitudes due to US tariffs and a different Lunar New Year holiday schedule Taiwan’s retail sales ended a nine-year growth streak last year, slipping 0.2 percent from a year earlier as uncertainty over US tariff policies affected demand for durable goods, data released on Friday by the Ministry of Economic Affairs showed. Last year’s retail sales totaled NT$4.84 trillion (US$153.27 billion), down about NT$9.5 billion, or 0.2 percent, from 2024. Despite the decline, the figure was still the second-highest annual sales total on record. Ministry statistics department deputy head Chen Yu-fang (陳玉芳) said sales of cars, motorcycles and related products, which accounted for 17.4 percent of total retail rales last year, fell NT$68.1 billion, or
MediaTek Inc (聯發科) shares yesterday notched their best two-day rally on record, as investors flock to the Taiwanese chip designer on excitement over its tie-up with Google. The Taipei-listed stock jumped 8.59 percent, capping a two-session surge of 19 percent and closing at a fresh all-time high of NT$1,770. That extended a two-month rally on growing awareness of MediaTek’s work on Google’s tensor processing units (TPUs), which are chips used in artificial intelligence (AI) applications. It also highlights how fund managers faced with single-stock limits on their holding of market titan Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) are diversifying into other AI-related firms.
RSS